Another trade I am look at. — I am waiting to see reaction to this zone.....Hopefully price action will be obvious. An engulfing bar....pinbar.....outside bar..... If not, then I will use common sense as well. If it gets rejected hard, I now ...

Silent Service Method

A question that was asked of me. — Yes, London is not very handy to trade. I know that to some people the following statement might be heresy. I don't care about the time. I based the trades off of weekly s/r lines for a reason - they tend to ...

Silent Service Method

Also, someone should point out how this could be worth swinging for a home run. If you get this trade correct, I wouldn't be in a hurry to take profits.....

james16 Chart Thread

One I am watching.... — SLV, a silver ETF - I uploaded a chart to show some of the things I watch out for.....had to use NinjaTrader charts.....Interactive Brokers charts are the worst.

Silent Service Method

I don't really worry about the session so much to be honest. I am a little leery of taking a 4 hour bar serious that was formed during the NY afternoon on a friday though, because it can be a result of people closing out the week's positions. CW

Silent Service Method

Actually, once you get pretty good at seeing these bars, and reading the hidden meaning... (Or not so hidden if you think about it.) Most of the time bar shape can be given a little "leeway" on criteria. It really can be somewhat subjective. I don't ...

Silent Service Method

I will show some examples of putting some of this together soon, I promise. However, do this first...... Draw S/R lines on as many weekly charts as you can get. (Stocks, forex, futures, it doesn't matter.) Do it until you start to have bad dreams ...

Silent Service Method

Certainly a good example of what I look for. I know that this area could give us some opportunities.... CW

Silent Service Method

EXACTLY. The USD/CAD is very interesting to me at the moment. If you look at the monthly or weekly.... 1.30 is a HUGE SPOT. It's places like these that we can take a trade and hang on forever. If it will only show itself. We must wait for it's ...

Silent Service Method

Exits are something we will have to works towards....the reason is that I could write a 500 page thread on that one alone. I have at least three different exits that I use consistently. CW

Silent Service Method

The engulfing bar. I use 30 pips on this pair because it's AUD/NZD which has a ridiculous spread.

Silent Service Method

Engulfing bar. — This is a chart of a bar I like a lot. It's called an engulfing bar. It engulfs several bars before it.....shaking a lot of traders out. I love these things, but they are kind of rare.....

Silent Service Method

I didn't measure it.....but it didn't break short did it? If not, this wasn't a trade anyways.

james16 Chart Thread

Anticipation vs. Reaction. — There is a commonly used series of phrases in trading that say something to the effect of: "Never go with the herd." "You should always look at things differently." And things like that.... Here's my take on that: ...

Silent Service Method

Odd how that happens, huh?

Silent Service Method

Yes, the two other areas in the center are more or less minor. They DO show some strength, and can be traded, but just by the fact they aren't at a swing high or low, they are second-class trades. Clockwork

Silent Service Method

On breakouts, yes....I tend to wait for some kind of support confirmation.

Silent Service Method

As with the example in our AUD/NZD charts above, all trading can be narowed down to one thing: Did we, or didn't we break through support/resistance?" It's that simple. We are watching how price reacts to a S/R zone. Either it will hold, or it ...

Silent Service Method

A quick example. — This is a horrible pair to trade. Choppy, choppy, choppy. However, on longer term charts it acts the same as most other pairs. These two charts show an example of playing a pinbar on the daily chart, based on weekly S/R ...

Silent Service Method

Different time zones.... — Rabid's question is valid. Asking about different time zones is something that is very common. However, all you can do is play the charts you have. As I posted earlier, it's not that the pinbar itself is magical, ...

Silent Service Method